Anthropic and Nscale Near Another $45 Billion AI Compute Deal
Anthropic and Nscale are discussing another $45 billion compute deal while pursuing IPOs amid investor concern over soaring AI infrastructure spending.
Summary
Anthropic and AI infrastructure provider Nscale were reportedly nearing another $45 billion compute agreement as of October 19, 2026, just over a month after announcing a previous $45 billion deal. Talks remain under way, and terms could change before an announcement.
Completion would extend Anthropic’s yearlong run of giant compute partnerships despite investor fears that AI companies are spending too much for too little profit. Anthropic continues on the belief that its infrastructure investments will pay off. Both companies are pursuing IPOs: Anthropic is still expected to go public in 2026, while Nscale faces investor resistance to its proposed $30 billion valuation.
Positives
- Another $45 billion agreement would expand the compute partnership between Anthropic and Nscale.
- Anthropic has continued securing giant compute partnerships throughout the past year.
- Anthropic remains expected to complete an IPO in 2026.
- Nscale is continuing its own pursuit of a public listing.
Risks & concerns
- Talks remain unfinished, and the proposed deal’s terms could change before an announcement.
- Investors fear AI companies are spending too much on compute while generating too little profit.
- Nscale faces investor pushback against its proposed $30 billion valuation.